Industry Background:
Drip irrigation is defined as the type of micro-irrigation system which applying small amounts of water as well as fertilizer uniformly across a specific area. It is the most actual method to the minimum quantity of water for higher yield. Numerous government initiatives to expand the drip irrigation market. For instance, in 2016, the government of the European Union and Eritrea has signed a deal of more than USD 22.4 million for drip irrigation system supply as well as installation deal. Therefore, it will affect the growth of drip irrigation market in future.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Jain Irrigation Systems Ltd. (India), Lindsay Corporation (United States), The Toro Company (United States), Netafim Limited (Israel), Rain Bird Corporation (United States), Chinadrip Irrigation Equipment Co. Ltd. (China), Elgo Irrigation Ltd. (Israel), Shanghai Huawei Water Saving Irrigation Corp. (China), Antelco Pty Ltd. (Australia) and EPC Industries (India) |
According to AMA, the market for Drip Irrigation is expected to register a CAGR of 10.2% during the forecast period to 2028. This growth is primarily driven by Government Programs and Subsidies Driving Acceptance of Drip Irrigation Systems, Efficiency in the Use of Water in Drought-Prone Areas and Cost Efficiency in Agricultural Production and Enhanced Crop Yields.
Globally, a noticeable market trend is evident Major trends in the market include the growing preference for drip irrigation systems with improved features. For instance, in 2017, the Netafim (Israel) Company has developed advanced drip irrigation systems in order to create sustainable work in agriculture. In addition, it also improves the economic position of millions of smallholder farmers globally. The Agricultural Products sector in the Asia-Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Jain Irrigation Systems Ltd. (India), Lindsay Corporation (United States), The Toro Company (United States), Netafim Limited (Israel), Rain Bird Corporation (United States), Chinadrip Irrigation Equipment Co. Ltd. (China), Elgo Irrigation Ltd. (Israel), Shanghai Huawei Water Saving Irrigation Corp. (China), Antelco Pty Ltd. (Australia) and EPC Industries (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market is fragmented with numerous players focusing on technique and quality of the product owing to which the global drip irrigation market can witness an upsurge in the forecast period.
Key Developments in the Market:
In February 2019, the Rivulis Irrigation Ltd. (Israel) Company has expanded its operations in Mexico with the opening of a new factory in Leon. Therefore, this strategy would help the company to expand its business in Mexico.
In May 2019, The Meltzer Group, Inc. (United States) Company has launched new ring connectors for its line of drip tapes. In addition, these new ring connectors are also available in four different variants and suitable for use in thin-walled pipes. Therefore, it would also help in the expansion of the product portfolio of the company in the future. and In February 2018, the Mexichem (Mexico) company, which is a diversified conglomerate with businesses in plastic piping, chemicals, as well as petrochemicals has acquired a majority stake in Netafim (Israel) company in a deal valued at more than USD 1.895 Billion. Hence, this would help in enhancing the customer base of the company.
Influencing Trend:
Major trends in the market include the growing preference for drip irrigation systems with improved features. For instance, in 2017, the Netafim (Israel) Company has developed advanced drip irrigation systems in order to create sustainable work in agriculture. In addition, it also improves the economic position of millions of smallholder farmers globally.
Market Growth Drivers:
Government Programs and Subsidies Driving Acceptance of Drip Irrigation Systems, Efficiency in the Use of Water in Drought-Prone Areas and Cost Efficiency in Agricultural Production and Enhanced Crop Yields
Challenges:
Environmental Degradation of Equipment, Resulting in Additional Costs for Clean-Up and Disposal and Soil Salinity Hazards and Bioclogging in Drip Irrigation Systems
Restraints:
High Initial Cost of Large-Scale Drip Irrigation Systems and Problem related to High Cost of System Maintenance
Opportunities:
Increasing Adoption of Precision Agriculture and Sustainable Practices, Advancements in Technological Capabilities of Drip Irrigation Systems and Government Initiatives to Promote Drip Irrigation Systems
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Drip Irrigation Market
- Analysis about New Entrants in Drip Irrigation Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Drip Irrigation Study Sheds Light on
The Drip Irrigation Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Drip Irrigation industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Drip Irrigation industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.